Friday, 2 November 2018

Airlander gets a boost from £21m insurance payout

The Airlander project, backed by over £2m via Crowdcube investors, has had a windfall of £21m from the airship's recent escape from its Bedforshire home.

As the company admits, the machine was badly damaged when it slipped its moorings. However silver linings come in in all shapes and sizes and the company is now reporting a net profit of over £2m due to the excess cash from the £21m insurance settlement.

Which is fortunate as the company recorded losses of over £2m without this exceptional item. On the back of all this, new investment to the tune of £5.4m has been raised and new debt for £2m is now on the books.

Might be a while still before shareholders get to see any fruit. But the lucky calamity on the 18 November 2017, is just the sort of thing this type of project needs to see it over the line.

7 comments:

Rob - completely the wrong place to post this but I can't see any other way to get in touch with you on the homepage. I'd be interested in hearing your take on Monzo's latest raise, no doubt Crowdcube will herald this as a success (although SHs have no route of exit). They have also confirmed a mega crowdfunding round but that it likely take place through their app. Be interesting if Crowdcube are completely cut out.

Hi can you comment on the emoov scam that is currently going on. Taking funding knowing they needed more and instead of cancelling took £2m. Looks like the directors going to get a nice payout but recent funders will be gone in the wind myself being one of them :(

The next Monzo raise will be on Crowdcube, although there may well be a link to it on the app. Most follow-on rounds don't include an exit, but I expect Monzo will eventually IPO, offering a good return for the crowd.